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County20th of 71 in Wisconsin by approvalsFIPS 55095
SBA loans in Polk County, Wisconsin
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Businesses in Polk County, Wisconsin, received 87 SBA loan approvals worth $50.2M in FY2021 to FY2025 (74 7(a), 13 504).
That is 74.8 approvals per 1,000 business establishments (1,163 establishments in 2023), above the Wisconsin figure of 46.3 and above the national 41.0.
It ranks 20th of 71 Wisconsin counties with approvals. In FY2025 there were 11, down 42% on FY2024.
23 lenders had approvals here; the most active were Hiawatha National Bank (15), Nicolet National Bank (15) and WBD, Inc. (10). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Polk County
By number of approvals to businesses in the county, FY2021–FY2025; 23 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Hiawatha National BankHager City, WI | 15 | $8.4M | 17.2% | |
| 2 | Nicolet National BankGreen Bay, WI | 15 | $6.2M | 17.2% | |
| 3 | WBD, Inc.Madison, WI · CDC | 10 | $4.5M | 11.5% | |
| 4 | Old National BankEvansville, IN | 9 | $16.1M | 10.3% | |
| 5 | Frandsen Bank and TrustArden Hills, MN | 6 | $4.7M | 6.9% | |
| 6 | First National Community BankNew Richmond, WI | 5 | $2.2M | 5.7% | |
| 7 | U.S. Bank, National AssociationCincinnati, OH | 4 | $952K | 4.6% | |
| 8 | Alerus Financial, National AssociationGrand Forks, ND | 2 | — | 2.3% | |
| 9 | Pillar BankBaldwin, WI | 2 | — | 2.3% | |
| 10 | Security Financial BankDurand, WI | 2 | — | 2.3% | |
| 11 | Village BankSaint Francis, MN | 2 | — | 2.3% | |
| 12 | Twin Cities-Metro Certified Development CompanyVadnais Heights, MN · CDC | 2 | — | 2.3% | |
| 13 | Bell BankFargo, ND | 2 | — | 2.3% | |
| 14 | Citizens State Bank of La CrosseLa Crosse, WI | 2 | — | 2.3% | |
| 15 | Amplio Economic Development CorporationArden Hills, MN · CDC | 1 | — | 1.1% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 8 | 9.2% | |
| 2 | Remediation and Other Waste Management ServicesNAICS 5629 | 8 | 9.2% | |
| 3 | Other Fabricated Metal Product ManufacturingNAICS 3329 | 6 | 6.9% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 4 | 4.6% | |
| 5 | Building Material and Supplies DealersNAICS 4441 | 3 | 3.4% | |
| 6 | Furniture and Home Furnishings RetailersNAICS 4491 | 3 | 3.4% | |
| 7 | Building Equipment ContractorsNAICS 2382 | 3 | 3.4% | |
| 8 | General Freight TruckingNAICS 4841 | 3 | 3.4% | |
| 9 | Other Personal ServicesNAICS 8129 | 3 | 3.4% | |
| 10 | Agriculture, Construction, and Mining Machinery ManufacturingNAICS 3331 | 2 | 2.3% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Manufacturing | 19 | 21.8% | |
| 2 | Accommodation and Food Services | 14 | 16.1% | |
| 3 | Retail Trade | 10 | 11.5% | |
| 4 | Other Services (except Public Administration) | 10 | 11.5% | |
| 5 | Administrative and Support and Waste Management and Remediation Services | 10 | 11.5% | |
| 6 | Construction | 6 | 6.9% | |
| 7 | Transportation and Warehousing | 5 | 5.7% | |
| 8 | Wholesale Trade | 3 | 3.4% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 8 | $7.4M | $260K | 0 | — | 8 | 46 |
| FY2025 | 11 | $8.3M | $200K | 0 | — | 11 | 196 |
| FY2024 | 16 | $10.3M | $181K | 3 | $1.6M | 19 | 164 |
| FY2023 | 12 | $4.0M | $216K | 1 | — | 13 | 97 |
| FY2022 | 18 | $13.0M | $140K | 3 | $1.0M | 21 | 174 |
| FY2021 | 17 | $8.8M | $350K | 6 | $2.3M | 23 | 231 |
| FY2020 | 7 | $2.3M | $310K | 2 | — | 9 | 52 |
| FY2019 | 12 | $3.2M | $155K | 3 | $3.4M | 15 | 103 |
| FY2018 | 17 | $7.4M | $210K | 1 | — | 18 | 119 |
| FY2017 | 12 | $2.9M | $137K | 2 | — | 14 | 103 |
| FY2016 | 11 | $5.3M | $131K | 2 | — | 13 | 103 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 69 approvals.
Against Wisconsin and the country
| FY2021–FY2025 | Polk County | Wisconsin | United States |
|---|---|---|---|
| Approvals | 87 | 6,706 | 342,825 |
| Approvals per 1,000 establishments | 74.8 | 46.3 | 41.0 |
| Median 7(a) approval | $216K | $225K | $190K |
| Median 504 approval | $315K | $616K | $657K |
| Average approval | $577K | $594K | $573K |
| 504 share of approvals | 14.9% | 18.4% | 11.0% |
| Jobs supported per approval, as reported | 9.9 | 11.0 | 10.5 |
| Share of state approvals | 1.3% | 100.0% | — |
Approval sizes
- $50,000 or less6.9%6
- $50,001 to $150,00029.9%26
- $150,001 to $350,00027.6%24
- $350,001 to $1 million23.0%20
- $1 million to $2 million6.9%6
- Over $2 million5.7%5
Age of the businesses
- Existing, more than 2 years old51.7%45
- New business, 2 years or less11.5%10
- Startup, loan funds will open the business21.8%19
- Change of ownership14.9%13
Questions and answers
Which lenders make the most SBA loans in Polk County?
By approvals in FY2021 to FY2025: Hiawatha National Bank (15), Nicolet National Bank (15), WBD, Inc. (10), Old National Bank (9), Frandsen Bank and Trust (6). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Polk County?
The median 7(a) approval was $216K and the median 504 approval $315K; the Wisconsin 7(a) median was $225K.
Which industries get the most SBA loans in Polk County?
Restaurants and Other Eating Places (8); Remediation and Other Waste Management Services (8); Other Fabricated Metal Product Manufacturing (6); Automotive Repair and Maintenance (4); Building Material and Supplies Dealers (3).
Is SBA lending in Polk County rising?
Approvals in the three latest complete fiscal years total 43, against 53 in the three before: falling (-19%).
How does Polk County compare with the rest of Wisconsin?
74.8 approvals per 1,000 establishments against 46.3 statewide, and 87 of the state's 6,706 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error